The Ship Report, Friday, April 19. 2024

More about general average liability for cargo owners - potentially daunting... Today I'll revisit a concept I talked about on Monday's show... General Average - an ancient maritime principle that governs how losses in a ship disaster are shared between stakeholders. I was talking about the containership Dali and what sort of liability cargo owners on that ship could face. Turns out quite a bit. Disasters are a reason why most companies shipping cargo have insurance against this sort of event. If they don't, it could be devastating.